Refrigeration Oil Market Forecast to 2027
Market OverviewThe compressors that play a role in producing cold air are typically lubricated with refrigeration oil. This oil helps reduce friction between metal parts, thereby reducing wear and tear on the compressor and extending its lifespan. Refrigeration oil is highly valued as a lubricant for the metal industry due to its ability to withstand high temperatures. The demand for consumer electronics, low GWP refrigerants, and food and pharmaceutical industries is expanding, which has resulted in an increase in demand for refrigeration oil. The market dynamics for the refrigeration oil sector have changed as a result of the rising demand for synthetic oil.
The refrigeration oil market report offers insightful information on trade laws, fresh new trends, value chain optimization, import-export analysis, and the effects of domestic and local market players, production analysis, opportunities, market share, market value, product launches, product approvals, technological advancements, and geographic expansions. The primary regions to produce refrigeration oils are Asia-Pacific, North America, and Europe. The refrigeration oil industry's two largest industrial markets are China and India.
Segment OverviewThe synthetic oil (polyalphaolefin, polyol ester, alkylbenzene, polyethylene glycol, and polyvinyl ether) and mineral oil segments of the refrigeration oil market are separated by type. According to the kind of refrigerant used, the refrigeration oil market is divided into ammonia, carbon dioxide, HCFCs (hydrochlorofluorocarbons), and HFCS segments. Refrigerators, freezers, aftermarket, automobile A.C. systems, air conditioners, chillers, and other applications make up the refrigeration oil market segments.
Regional AnalysisEurope, North America, Asia-Pacific, and other nations are the geographical segments of the refrigeration oil market. Leading refrigeration oil industries are in Asia-Pacific. The refrigeration oil industry's two huge industrial markets are China and India. The need for low GWP refrigerants and consumer appliances, automotive production, food and pharmaceutical industries, and refrigeration oil has increased recently. The growth of the refrigeration oil market both internationally and in rural areas of individual countries has been predicted by factors such as production sites and volumes, consumption volumes, price trend analysis, import-export analysis, upstream and downstream value chain analysis, and cost of raw materials. In the trading, refinement, and production of refrigeration oil, numerous national and international brands are very important.
Major PlayersRoyal Dutch Shell Plc, Petroleum Nasional Berhad (PETRONAS), Sun Company, Exxon Mobil Corporation, Jxtg Group, Behr Hella Service Gmbh, China Petrochemical Corporation (Sinopec Group), BASF SE, The Lubrizol Corporation, CAMCO Lubricants, Idemitsu Kosan Co. Ltd., Cosmo Oil Lubricants Co. Ltd., Lubriplate Lubricants Company, Phillips 66 Lubricants, Indian Oil Corporation Ltd are among the leading companies operating in the global Refrigeration oil market.
COVID 19 ImpactsThe planet is reportedly in an emergency situation as of right now. The virus that started in a flea market in Wuhan, China, has had a negative economic, political, and social impact on the entire planet. People are now used to liking the fundamentals. Governments all throughout the world enacted lockdowns globally and at the state level to stop the virus's spread because human life was in danger. Additionally, industries all around the world came to a halt. The refining and extraction of refrigeration oil required less workers as a result of the stagnating situation of the industry. In the following years, the industry is anticipated to overcome its current state of stagnation by becoming more productive.
Companies MentionedRoyal Dutch Shell Plc
Petroleum Nasional Berhad (PETRONAS)
Sun Company
Exxon Mobil Corporation
Jxtg Group
Behr Hella Service Gmbh
China Petrochemical Corporation (Sinopec Group)
BASF SE
The Lubrizol Corporation
CAMCO Lubricants
Idemitsu Kosan Co. Ltd.
Cosmo Oil Lubricants Co. Ltd.
Lubriplate Lubricants Company
Phillips 66 Lubricants
Indian Oil Corporation Ltd
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.